RESEARCH has shown a yawning gap in the effect of the recent austerity Budget on confidence levels among young and old people.
PricewaterhouseCoopers (PwC) found 30 per cent of 18-24 year-olds think they will be better off in 12 months’ time. Confidence then dips on a declining scale, turning negative among 35-44 year-olds and bottoming out in the 55-64 age bracket, where 47 per cent of people believe they will be worse off in a year’s time.
Inge Cajot, a director at PwC, said: “Ironically, the medium term fundamentals point in the opposite direction.
“Younger consumers continue to be optimistic about their future disposable income but in reality it is under increasing pressure due to rising unemployment, lower pay rises and potentially higher student fees to face.”